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Solvay’s net income climbs 34% y-o-y in Q2

by ChemOrbis Editorial Team - content@chemorbis.com
  • 29/07/2016 (14:47)
According to media reports, Solvay’s net income in the second quarter rose to €185 million ($203.1 million) from €138 million in the same period of 2015. Underlying earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter was €652 million ($724 million), up 8% from a year earlier.

However, the company’s sales fell by 6% on the year to €2.946 billion ($3.27 billion) in the April-June period due to foreign exchange fluctuations on conversion and low sales prices due to weak raw material and energy costs.

The company’s revenue from the performance chemicals segment was reported at €224 million ($248.8 million) in the second quarter, up 20% from a year earlier owing to strong volumes in soda ash and continued recovery in acetate tow while the company’s revenue from the functional polymers segment rose to €64 million ($71 million), up 24% on the year on the back of a higher contribution from RusVinyl.
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